Any person upon whom demand is made to transfer money or other property under a court order, who denies the right of the petitioner or other transferee to receive the same shall, within 10 days of the demand to transfer being made upon him, file his answer in the Court that issued the order, setting forth the grounds that entitle him to retain possession thereof. Upon the filing of such answer, the Court shall, after notice to petitioner or other transferee, set the matter down for hearing and make such finding and enter such further order as the ends of justice require.